RE:Thought they owedSlotracker,
Can you please provide any facts and details that you have, with respect to your reference to, in your words “$150k to Defn by October in exploration costs to maintain the property in standing order.”
For the intended benefit of colleague BB posters here, I have reviewed, on SEDAR,
Form 51-102F1 Management’s Discussion & Analysis for the Year Ended August 31, 2020, filed by International Montoro Resources (IMT.V), which also declared that it contained relevant information as of December 29, 2020:
Highlights are identified of the progress on their various mineral projects, during the current year and in the past several years.
- (a) Serpent River – Sault Ste. Marie Mining Division – Elliot Lake – Northern Ontario
- (b) Duhamel Property – Saguenay-Lac-Saint-Jean Region -Quebec
- (c) Wicheeda North – Northeast of Prince George, British Columbia
- (d) Camping Lake Property – Red Lake, Ontario
- (e) Blackfly Property – Atikokan, Ontario
Information provided relating to Wicheeda included no reference, that I could find, to the $150K in your message!? February 6, 2019 – The Company has entered into acquisition agreements with various vendors, to acquire four (4) contiguous MTO cell claims in the Cariboo Mining Division, B.C.,
with one claim block adjoining the well-known Wicheeda rare earth mineral project. The Claim block covers approximately 1,444.06 ha. Details of the Wicheeda North Agreement as follows:
- Pay the Vendors an aggregate of $50,000 as follows: (i) $25,000 upon Exchange approval (Paid); (ii) $25,000 within one year of signing the agreement (Paid).
- Issue to the Vendors an aggregate of 1,000,000 units upon Exchange approval. Each Unit consists of one common share of the Company and one transferable share purchase warrant (the “Warrant”) entitling the holder to acquire a further common share of the Company at a price of $0.10 for two years from issuance (Issued).
- Agree to a 2% Net Smelter Return Royalty (“NSR”). The Company may acquire one-half of the NSR for $1 million within five years of the Agreement Date. Further details of the property; including location, geology and area discoveries can be reviewed in the news release as filed on SEDAR and on the Company website.
April 11, 2019 – Montoro expands information on Wicheeda North –Rare Earth Element (REE) project. See news release as filed on SEDAR and the Company website. The Company contracted Campbell & Walker Geophysics Ltd.- Christopher (Kit) Campbell and Sean Walker to complete a 3D inversion of the airborne electromagnetic and magnetic data previous completed by Montoro in 2010.
May 1, 2019 – Montoro receives NI 43-101 Report on Wicheeda North. Mr. Robert (Bob) Lane, P.Geo., reports. See news release as filed on SEDAR and the Company website.
July 9, 2020 - Mr. Karim Rayani is appointed as its new President, Chief Executive Officer and Director.
1.10 Transactions with related parties included: The Company and Belmont Resources Inc. (a public company related through common directors), are 50:50 joint venture partners in the Crackingstone, Saskatchewan Project….. N
o reference to Wicheeda North in this item.
1.11 Proposed transactions/Commitments:
No reference in this section to Wicheeda. SUBSEQUENT EVENTS FROM AUGUST 31, 2020 TO DATE……
No reference in this section to Wicheeda.
Peace.,
Good Decision-making to All,
ElJ